The Kogi State Government has entered into a strategic partnership with Mufkad Estate, a real estate development firm, to deliver a rent-to-own housing project aimed at supporting civil servants across the state.
The initiative was confirmed by Mufkad Estate’s Project Manager, Suberu Nusa, during a press briefing on Saturday. He explained that the scheme is being executed in collaboration with the state’s Ministry of Housing and Urban Development, following the directive of Governor Usman Ododo.
Nusa stated that the project is designed to fast-track the provision of affordable homes tailored to the needs of public sector workers. “We had a meeting with the Honourable Commissioner for Housing and Urban Development, as instructed by Governor Usman Ododo, to accelerate the implementation of an affordable housing model,” he said.
He further noted that the governor has mandated the adoption of a rent-to-own approach in partnership with the Federal Mortgage Bank of Nigeria (FMBN), allowing civil servants to take possession of homes and gradually pay for them over an extended period.
“This project is a response to the growing housing challenges in the state, especially in Lokoja, where rental costs continue to rise. The governor wants every civil servant to have access to decent and affordable housing,” Nusa added.
Under the proposed arrangement, the housing units will be offered through a flexible rent-to-own scheme backed by FMBN. Payment plans will span between 15 and 20 years, with interest rates kept in the single digits to ensure long-term affordability.
